Northern Petroleum completes well test
20th Dec 2011 09:29
AIM-listed Northern Petroleum has completed an extended well test of the Ottoland oil discovery in The Netherlands. The well was drilled in 2007 and hydraulically fractured in 2009. Permission was received to conduct the test using a jet pump device to assist the flow of oil. The firm hopes its a
Read moreNorthern Petroleum sells stake in Vinkega gas field
8th Dec 2011 12:35
Northern Petroleum has sold its interest in the Vinkega gas field for around €3.2m, equivalent to about £2.7m. Northern said it considered that Vinkega was "not a prospect of sufficient size and structural appeal to have attracted a wildcat well on the Drenthe III licence alone." The Vinkega gas
Read moreLondon close: Stocks dive on euro worries
9th Sep 2011 16:55
The volatility continued heading into the weekend and stocks were nursing hefty losses at the close of play. The resignation of European Central Bank official Juergen Stark brought the Eurozone crisis into focus. Stark, a German, like many of his compatriots is unhappy about the Bank's policy of b
Read moreLondon midday: Stocks fall after flat start
9th Sep 2011 12:06
Stocks have eased slightly as nerves set in ahead of this weekend's meeting of the G7 grouping of industrialised countries. Motor insurer Admiral is in the slow lane after saying it could see "a small proportion" of its profits put at risk under the government's plans to ban the payment of referra
Read moreTullow Oil and Shell make 'encouraging' discovery
9th Sep 2011 07:24
A joint venture between Tullow Oil and Royal Dutch Shell has made an oil discovery at its Zeadyus exploration well, 150km offshore French Guiana. The Guyana Maritime permit said it has encountered 72m of net oil pay in two turbidite fans, and the results of drilling and sampling show "good quality
Read moreLondon close: Stocks hold on to gains
27th May 2011 16:46
Stocks held on to gains going into a long weekend, as Wall Street opened up higher. After a sharp rise in early trading, the Footsie maintained its level around the 5,930-40 mark for the rest of the day, helped by strong showings from the miners and the banks. Just seven stocks finished in the red.
Read moreBroker tips: Aveva, Electrocomponents, Northern Petroleum
27th May 2011 12:54
Singer Capital Markets has upgraded its rating on engineering software firm Aveva Group after a strong end to the year and a confident outlook for the current year. The group's full-year results were ahead in terms of revenue performance but were in line on an adjusted pre-tax profit and earnings p
Read moreBroker snap: Northern Petroleum placed 'under review'
27th May 2011 12:52
Matrix has placed its rating on Northern Petroleum 'under review' after a disappointing update in which the oil and gas firm slashed reserve estimates at three of its five gas fields in the Netherlands. The broker notes that reserves in the group's key Geesbrug field have been cut by almost 50% fro
Read moreNorthern Petroleum heads south on reserves cut
27th May 2011 12:36
AIM listed Northern Petroleum has slashed reserve estimates at three of its five gas fields in the Netherlands and issued a profits warning. Following changes to reserve estimates for its Geesbrug, Grolloo and Wijk en Aalburg field, the company now expects to report a loss after tax for the year e
Read moreNorthern starts gas production at Wijk en Aalburg
21st Dec 2010 14:53
Gas production has commenced at Wijk en Aalburg in the Netherlands, where AIM-quoted Northern Petroleum has an ongoing 45% interest. An agreement with its partner Nederlandse Aardolie Maatschappij (NAM) means that Northern receive 100% pay-back of its development costs on a project plus an uplift o
Read moreSmall caps: EDP, Interbulk, RWS...
14th Dec 2010 13:34
Electronic Data Processing's pre-tax profit for the year to September was £584,000 up from £456,000 last year. Adjusted operating profit was £704,000 (2009: £707,000) which gives an operating margin of 12.6% (2009: 12%).Turnover was £5.58m compared with £5.84m last year. Trading conditions have
Read moreNorthern Petroleum farms out Italian interest
8th Dec 2010 08:40
Northern Petroleum has agreed to farm out an interest in the Longastrino permit in the eastern part of the Po Valley Basin, onshore Italy. The deal, Northern's third farm-out in Italy, will see Canada's Orca Exploration pay 100% of the costs of the first well up to €4.3m and 70% thereafter to c
Read moreNorthern Petroleum switches to profit
29th Sep 2010 08:21
Aim listed oil and gas exploration group Northern Petroleum moved into profit for the half year after its Brakel oil field in the Netherlands came on stream. The group posted pre-tax profit of €2.3m during the six months ended 30 June 2010 from a pre-tax loss of €531,000 the year earlier. Revenue f
Read moreLondon close: Stocks cling on to gains
2nd Jul 2010 16:57
Leading shares went into a swoon in the final two hours of the trading session, taking their lead from the US which, after spending a while to analyse the non-farm payrolls data, moved lower. Despite coming off the top in late afternoon Footsie finished the day in positive territory, largely due t
Read moreUK SMALLCAP ROUNDUP: Regal Petroleum Gets Ukraine Injunction
2nd Jul 2010 16:00
Dow Jones smallcap news is now on Twitter, allowing you to catch up on the news away from your desk. Go to http://twitter.com/DJ_UK_Smallcaps REGAL PETROLEUM PLC (RPT.LN), an oil and gas explorer, Friday got approval to continue drilling and production in the Ukraine after an order halting its
Read more